Banks’ credit facilities grow EGP 3.4 bn in December

Credit facilities granted by banks in Egypt increased by 3.4 billion, or 0.7%, in December as it reached EGP 489.7 billion, compared with EGP 486.3 in November.

CBE’s latest monthly report revealed that government’s loaning increased by 1.04% at end of December, in value to EGP 386 million, as it reached EGP 37.22 billion, compared with EGP 36.8 billion in November. Loaning in local currency reached EGP 16.84 billion, compared with EGP 17.08 billion. Loaning in foreign currency reached EGP 20.3 billion in December, compared with 19.7 billion in November.

The volume of loans and discount for non-governmental entities increased by 67% in December, in value to EGP 3.02 billion, registering EGP 452.5 billion, compared with EGP 449.4 billion in November, which is divided into local currency loaning of  328.5, compared with EGP 324.7 billion and foreign currency loaning of EGP 123.9 billion , compared with EGP 124.7 billion.